Cryptocurrency Expert: 11.13 Bitcoin (BTC) Overselling Does Not Equal Bottoming Out: Three Confirmation Signals the Technical Side Really Needs to Wait For After Breaking the Lower Boundary on the Daily Line

Short-term profits are made from the rhythm of the market, not from guessing the bottom or the top. When feeling eager to act, first ask yourself: Is the position reached? Is the signal out? Is the stop-loss set? If you cannot answer any of these three questions, do not act. The rebound after a sharp drop is the easiest to deceive, appearing as a reversal, but is actually just a breather. Do not chase after a long position following a big bullish candle, nor chase after a short position following a panic sell-off; wait until the price reaches the planned position before acting.

The daily candlestick chart shows a medium bearish candle with a lower shadow. All five EMA moving averages are arranged above the current price, indicating a typical bearish pattern, with the price unable to return to even the shortest EMA15. Regarding MACD, the dual lines continue to open below the zero axis, and bearish momentum is still being released. The middle line of the Bollinger Band is 77329, the upper line is 82569, and the lower line is 72088; the current price of 71930 has broken through the lower line, indicating short-term overselling, but overselling does not equal bottoming out. The overall structure at the daily level is still under pressure from the rebound, with the center of gravity moving lower, and stabilizing signals have not yet appeared.

The four-hour candlestick chart shows a small bullish candle with a slight rebound. The price is operating below all moving averages in a bearish arrangement. Compared to the previous sharp decline, MACD has somewhat converged, indicating that the short-term selling pace has slowed, and there is a demand for a technical rebound; however, the dual lines are still below the zero axis, making the rebound more inclined towards a correction within the downtrend, thus a trend reversal cannot yet be discussed. The lower line of the Bollinger Band is 72000, the middle line is 73890, and the upper line is 75781; the current price is right on the edge of the lower line. The TD indicator displays 6, and the pullback count has not yet been completed; it needs to be observed whether the rebound strength can re-establish above the short-middle line around 73400.

Short-term reference:

Going up from 71200 to 70700 is encountering resistance, with a stop-loss of 500 points, aiming for a target of 72000 to 73000.

Going down from 73500 to 74000 is stagnating, with a stop-loss of 500 points, aiming for a target of 73000 to 72000.

Specific operations should primarily focus on real-time data from the market. More informational details can be consulted with the author. The article publication has a delay, thus the advice is for reference only, risk is assumed by the reader.

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